7 Mar

Mike Sivier's blog

borrowing

David Cameron must think we’re all as stupid as his fellow Conservatives and that party’s most rabid adherents, if the latest BBC report is to be believed.

In it, he responds to comments from his Coalition government’s own Business Secretary, Vince Cable, suggesting the government could consider borrowing more – at, let’s remember, the lowest interest rates in British history – to inject some growth into the economy.

Cable’s remarks are eminently sensible – which is, of course, why Cameron is believed to be moving so quickly to counter them. The fact is that austerity never – ever – brought a country out of debt. Investment is the key. Investment needs money. If you don’t have money, you borrow it from someone who does. Then you pay them back – with interest from your profits. ‘Speculate to accumulate’, as the saying goes. It’s how most Conservatives and Tory voters…

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